Blue Nile SWOT analysis evaluates the brand by its strengths, weaknesses, opportunities & threats. In SWOT Analysis of Blue Nile, the strengths and weaknesses are the internal factors whereas opportunities and threats are the external factors.
SWOT Analysis is a proven management framework which enables a brand like Blue Nile to benchmark its business & performance as compared to the competitors, and make strategic improvements. Blue Nile is one of the leading brands in the lifestyle and retail sector.
The article below lists the Blue Nile SWOT, competitors and includes its target market, segmentation, positioning & USP. Let us start the Blue Nile SWOT Analysis:
In this article:
For Blue Nile, SWOT analysis can help the brand focus on building upon its strengths and opportunities while addressing its weaknesses as well as threats to improve its market position.
The strengths of Blue Nile looks at the key aspects of its business which gives it competitive advantage in the market. Some important factors in a brand's strengths include its financial position, experienced workforce, product uniqueness & intangible assets like brand value. Below are the Strengths in the SWOT Analysis of Blue Nile :
1. One of the largest sellers of diamonds using online interface in USA.
2. Choices of over 33,000 options in diamonds are available
3. No Inventory and space issue since they directly deal with wholesalers of the respective areas for shipping it to the end user.
4. Seasonal dynamic gift centre
5. Strong brand presence in US
The weaknesses of a brand are certain aspects of its business which are it can improve to increase its position further. Certain weaknesses can be defined as attributes which the company is lacking or in which the competitors are better. Here are the weaknesses in the Blue Nile SWOT Analysis:
1. Since its online purchase, people cannot compare the product or cannot match with other products till it’s being packaged and sent
2.Many customers still have this instinct to see the product and wants the extra services the company willingly gives
The opportunities for any brand can include areas of improvement to increase its business. A brand's opportunities can lie in geographic expansion, product improvements, better communication etc. Following are the opportunities in Blue Nile SWOT Analysis:
1. More advertising needs to be done.
2. Use of social networking sites can be used to spread the awareness among youngsters.
3. Going global and overseas.
The threats for any business can be factors which can negatively impact its business. Some factors like increased competitor activity, changing government policies, alternate products or services etc. can be threats. The threats in the SWOT Analysis of Blue Nile are as mentioned:
1. Damage caused to problems at times of shipping
2.Spike in the prices of gold
3.Prices of Fuel and euro crisis also is a threat.
There are several brands in the market which are competing for the same set of customers. Below are the top 3 competitors of Blue Nile:
1. Tiffany and co
2.Signet Group – Kay Jeweler
3.Zale Jeweler stores
Hence this concludes the Blue Nile SWOT analysis.
Continue reading more about the brand/company.
|Blue Nile Overview|
Jeweler and diamonds(USA)
A smarter way to buy diamonds; Education. Guidance. Diamonds and Fine Jewelry; It starts with the diamond in your mind
Customization done by excellent and experienced craftsmanship
|Blue Nile STP|
Men and woman with viable financial condition and who are more technologically sound and who are often purchasers from online portal
Men and Woman from an affluent class
Exquisite designs, certified jeweler.
This article has been researched & authored by the Content & Research Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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